Perception of entrepreneurial opportunity: a general framework

Abstract

PurposePrevious research has predominantly approached the concept of entrepreneurial opportunities from either one of two perspectives: opportunities exist as objective phenomena in the environment waiting to be discovered by alert entrepreneurs, or opportunities are subjectively perceived and even created by individual entrepreneurs. This paper aims to put forward a framework of opportunity perception which demonstrates that all entrepreneurial opportunities possess both objective and subjective qualities, thus helping reconcile both perspectives.Design/methodology/approachA conceptual framework is developed, based on previous literature and insights from entrepreneurship, economics, psychology and related disciplines.FindingsVarious perspectives presented in previous research can be combined into a coherent framework that summarizes the components of entrepreneurial opportunity perception. Testable propositions are provided for future research.Originality/valueThe authors show that elements of both subjective perception and objective market conditions contribute to recognized entrepreneurial opportunities. Also, they show that while the perception and pursuit of opportunity is fundamentally idiosyncratic to each entrepreneur, the success of an entrepreneurial endeavor is constrained by the objective conditions of opportunity.

Model konstruksi kognitif metaphora kewirausahaan: pendekatan konseptual

“…Perbedaan setiap indidividu dapat menyebabkan identifikasi peluang yang berbeda karena kepemilikan akan informasi sebagai prior knowledge (pengalaman, aktivitas pekerjaan, pekerjaan yang berhubungan dengan teknologi, pelatihan, status sosial dan aktivitas perjalanan, dan lainnya) yang berbeda satu dengan lainnya (Fiet, J. O, 1996(Fiet, J. O, , 2007. Sejalan dengan (Renko, Shrader, & Simon, M. 2012). yang menyatakan bahwa marked and technological knowledge memiliki peran dalam "recognizing entreprenurial opportunities".…”

“…Eksploitasi peluang dan pengenalan peluang merupakan konstruk berbeda namun dua konstruk yangtidak dapat dipisahkan dan saling melengkapi, walaupun beberapa peneliti menempatkan isu yang sama dalam penelitian (Jarvis, Lee C, 2016;Schwartz, 2000) dan saat ini telah menjadi field dalam domain ilmu kewirausahaan (Davidsson et al, 2001;Gruber et al, 2015;Renko, M, et al, 2012).Beberapa penulis menunjukkan bahwa eksploitasi peluang merupakan aktivitas entreprenurial untuk mendapatkan keunggulan kompetitif (Yaqing et. al., 2016) Eksploitasi peluang membutuhkan teknik, yang dalam literatur bisnis disebut juga strategic model business, atau sejenisnya.…”

Opportunity identification competence : explaining individual and exploring team opportunity identification by employees

“…In entrepreneurship literature, opportunities and the process leading towards OI are approached as either objective or subjective (Renko, Shrader, & Simon, 2012). Whereas proponents of the objective view argue that opportunities are discovered in the economic environment (Kirzner, 1997;Renko et al, 2012), proponents of the subjective view maintain that opportunities are created by individuals (Fletcher, 2006;Wood & McKinley, 2010).…”

“…What opportunities are, and how they come into being, is a topic of lively discussion in the literature (e.g., DeTienne & Chandler, 2004;Renko, Shrader, & Simon, 2012). Some scholars argue that opportunities exist in the economic environment, waiting to be discovered (Companys & McMullen, 2007).…”

“…Within the entrepreneurship research field, the research roots of opportunities and the process leading towards identification and exploitation are approached as either objective or subjective (Renko, Shrader, & Simon, 2012). The position one chooses distinctly defines the competence domain necessary for this process.…”